Instant Insights

Overcapacity and Low Demand

Following a period of revenue increase and office growth, the legal field is now facing a new challenge: a decrease in demand. Where firms were once seeing immense demand from clients across sectors and geographies, which led to an increase of profits that gave firms the opportunity to grow, are now stalling out.

In the midst of economic headwinds and depressed demand across numerous areas, including tech, corporate and bankruptcy practices, several Big Law firms have begun trimming their ranks and deferring incoming associate classes.

While the past few years have boded well for firm financials, they are continuing to see a decrease as the market levels out to prepandemic standards. From deferrals of incoming associate classes to massive cuts of lawyers and staff, law firms are using layoffs and delays as a way to manage through the market dip.

As firms continue to restructure, we will be keeping up with the changes and trends. Be sure to check back for the most recent layoff and deferral news.

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Go Inside the Alex Jones Sandy Hook-Hoax Trial

Alex Jones used his show Infowars to spread the lie that the Sandy Hook Elementary School shooting was a 'hoax'. The families of the students and teachers killed have filed multiple defamation lawsuit against Jones and his company, Free Speech Systems. Jones has lost all of his cases by default, and the jury will now decide how much to award the plaintiffs in damages.

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The 2022 Am Law 100

Following on the heels of a surprisingly successful pandemic year in 2020, the Am Law 100 hit another gear in 2021. The gains were bigger and more universal than ever before, resulting in the group's best financial results in a generation.

The country's largest firms collectively grew revenue 14.8%, paced by two titans at the top of the rankings, Kirkland & Ellis and Latham & Watkins. The Am Law 100 also boasted 12.5% growth in revenue per lawyer and a 19.4% spike in profits per equity partner.

Those numbers are stunning, but they only tell a small part of the story. How will firms fare when surging demand starts to slow down? Will they invest their extraordinary profits in building for the future? Will client pressure force them to halt the rate increases that have helped drive so much of their growth? In this year's Am Law 100 report, we answer those questions and more.

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Making It Work: The Legal Profession in the Age of COVID-19

Chances are your life has been upended by the coronavirus pandemic, whether you’re a partner, associate, in-house counsel, student, professor or legal tech professional. As part of that legal community, you're also resilient, with inventive ways of getting the job done despite very difficult times. In this collection, Law.com reports on what you need to know to keep it all going and how you’re helping others during the crisis. You'll also find a roundup of the latest COVID-19 news affecting legal professionals.

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As Coronavirus Spreads, Legal Industry Shifts into Crisis Management Mode

Lawyers and their clients worldwide are responding to the coronavirus outbreak that, since December, has killed more than 67,760 people and infected more than 1.21 million. Law.com’s reporters around the world are covering the virus’ impact on law firm operations, client business, law schools, and lawyer and staffer safety. Here’s a collection of our coverage, which we’re continuously updating.

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Lawyers Find Their Roles in America’s Opioid Crisis

Civil and criminal cases are multiplying as more fingers point to Big Pharma as the engine in the addiction epidemic. In this Instant Insights, we look at the resulting litigation.

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Law School Leadership Grows More Diverse

An increasing number of minorities and women are moving into the deans’ suites at law schools across the country. In this Instant Insights, we dig into the trend.

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Litigation Funding Bulks Up in U.S. and Abroad

From forging ventures with powerful law firms to raising multi-millions of dollars in capital, litigation funding is spreading its reach across the globe.

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Gender Bias Suits Bring Opportunities for Some Law Firms, Woes for Others

While some law firms find themselves defending gender discrimination lawsuits brought by their current or former lawyers, other law firms are garnering business from the increase in gender bias suits against law firms and other companies.

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The Mueller Report: What's Next?

After a two-year investigation, special counsel Robert Mueller’s report on Russian meddling in the 2016 presidential election was released on March 22. In this Instant Insights, we take a look at the impact of the report and what the next steps mean for the legal profession.

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College Admissions Scandal Entangles the Legal Profession

When news broke of the U.S. Department of Justice’s prosecution of 50 people charged in a nationwide college admissions scheme, Law.com knew the story was big. What we discovered moments later was that a top lawyer from an elite law firm was one of those charged, making the story even more powerful for our readers. In this Instant Insights, we show the ripple effects of the case to the legal community.

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Cryptocurrency Moves into the Mainstream

Bitcoin and blockchain are no longer tech-nerd abstractions. Digital currency is becoming a significant part of doing business these days, as the law plays catch-up to regulate it. In this Instant Insights, we look at the impact that cryptocurrency is having on the legal marketplace and the practice of law.

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Black History Month Highlights Lack of Progress in Diversifying the Legal Profession

The numbers of black partners remain woefully low at major law firms. At the same time, the legal profession is still not attracting young black people interested in pursuing a law degree. In this Instant Insights—as we recognize Black History Month—we look at efforts underway at the pipeline point and within Big Law to change the dynamic, as concern persists that law schools and firm leaders are not addressing the problem effectively.

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All Eyes on Big Law’s Diversity Problem

The lack of minorities and women at the top of Big Law is not a new situation, but the enduring problem is prompting high-profile discrimination claims against firms and has garnered the attention of mainstream media. In this Instant Insights, we examine the problem and how firms are reacting to the spotlight.

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Government Shutdown Takes a Toll on the Legal Profession

The closure has reached epic proportions, becoming the longest in U.S. history. In this Instant Insights, we look at how it’s affecting lawyers and law students.

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Business, Tech and Regulation: What’s Ahead for the Legal Industry in 2019

We’re looking at the coming year in this Instant Insights, with previews of what law firms, in-house departments and public interest attorneys can expect. Take a few moments to gaze into our crystal ball.

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Elite Law Students Toppling Firms’ Mandatory Arbitration Policies

As the #MeToo Movement stakes its place in legal education, law students at some of the countries top schools have pressured major law firms to do away with requiring summer associates to sign mandatory arbitration agreements that could involve sexual harassment claims. In this Instant Insights, we look at the result of the students’ efforts and the power dynamics at play.

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Facebook Pummeled with Litigation

Few would have guessed from Facebook’s humble beginnings in 2004 as the brainchild of Mark Zuckerberg and four Harvard classmates that 14 years later it would be mired in litigation so deep that the social network’s very future was on the line. In this Instant Insights we explore the array of lawsuits against the Silicon Valley giant, which range from testing the basic tenets of democracy to the advertisement of tattoo services.

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The Brexit Effect: The Legal Profession Braces for Impact

The U.K. is set to leave the E.U. in March, and the consequences to the legal community here and abroad are expected to be profound. Some law firms are holding out hope for a second vote as negotiations between the U.K. and the E.U. over sovereignty, work and trade, citizenship, civil rights and more are proving unsatisfactory for many. In this Instant Insights, we look at how lawyers are preparing for the upheaval.

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Big Law’s Mental Health Problem Hits Crisis Level

Following a ground-breaking study two years ago, we know that the mental health and substance abuse problems are higher in the legal profession than elsewhere. In this Instant Insights, we take a close look at the severity of the issue in Big Law and what firms are doing to address it.

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Brett Kavanaugh and the New Supreme Court

Brett Kavanaugh’s climb from the D.C. Circuit to the U.S. Supreme Court was rough for just about everyone. Now that he’s in place, we’re starting to see how he’ll go about handling cases that make it to the highest court in the land. In this Instant Insights, we look at some early signs of how Kavanaugh will conduct himself and what his presence means for the SCOTUS judiciary.

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Lawyers Drawn to Cryptocurrency's In-House Allure

It might not be mainstream, but cryptocurrency is a growing way to conduct transactions, and along with that growth are attorneys moving in-house to represent companies at the heart of the technology. In this Instant Insights, we look at the recent moves among attorneys getting in on the movement.

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Law Firms (Slowly) Improving the Associate Experience

Big Law finally has gotten the memo that keeping associates happy—at least those they want to retain—makes good business sense. For sure, long hours and demanding partners are still a major part of associate life, but firms are recognizing that paying attention to junior lawyers’ needs, whether its career development programs or more time with family, can yield benefits for everyone.

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Turbulent Trade Policy Requires Nimble Lawyering

The current trade climate demands that lawyers get current on the latest developments and what they mean to their clients and practices. In this Instant Insights, we explore the shifting trade landscape and its impact on substantive law and the legal profession.

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Is Your Law Firm’s Data Secure Enough? Probably Not.

Cyberattacks are a fast-moving target, and it’s imperative that law firms, with their confidential client information, get ahead of them. Law.com’s reporting, however, shows that many law firms are poised to get caught flatfooted should hackers infiltrate their data. In this Instant Insights, we look at where the security holes are and what law firms should do to get up to speed.

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The Big Four Are Gaining Global Momentum

The Big Four accounting firms are marching across the global legal market, moving beyond tax-related legal services and into employment, arbitration, cybersecurity and more. In this Instant Insights, we explore the Big Four global growth and what it means to law firms large and small.

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SCOTUS Delivers (Mostly) Banner Term for Business

The U.S. Supreme Court term ended with a bang June 27, when Justice Anthony Kennedy revealed that he would retire from the bench after three decades. But even without that bombshell announcement, the term was a barn burner, with decisions ranging from the travel ban to abortion rights to voter laws. In this Instant Insights, we’re looking at the decisions that most closely affect businesses—those that will impact many of you and your clients.

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The GDPR Deadline Hits. Now What?

Was it more hype than reality? With the deadline for the European Union’s General Data Protection Regulation come and gone, here’s a look at how law firms and their clients braced for impact and now are grappling with the repercussions.

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Legal Leaders Toppled in the #MeToo Era

The last few weeks have demonstrated that the legal profession is hardly immune from sexual harassment and assault scandals engulfing workplaces in the #MeToo era. In this Instant Insights, we show you recent instances in which legal leaders have toppled from their positions amid such allegations and what the profession is doing about it to help stop the problem.

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‘Bigger in Texas’ is Law Firms' Expansion Strategy

Less than three months into 2018, more than half a dozen firms already have expanded or opened new offices in Texas,

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Gig Economy Reshapes the Law

As more companies turn to on-demand workers to save money and provide flexibility, changes in labor, privacy and tort law are at the fore. In this Instant Insights, we explore the evolving legalities and how they’re impacting the practice of law.

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Big Law Bonanza as Firms Add Locations

The new year got off to a bang with a wave of law firms opening offices here and abroad. Asia is a popular destination for growth as is Boston and Ireland. Of course, 2018 isn’t without its closures so far—Troutman Sanders shut down three overseas offices and Norton Rose Fulbright closed two more—but many firms are in expansion mode right now. This Instant Insights spots the trends and pulls them all together.

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When the Bottom Falls Out of Legal Education

The number of law school failures in recent years is unprecedented in the history of legal education. Lower enrollment, the high cost of paying faculty and a poor job market have spelled the end for five schools since 2014, with another on the brink of collapse. Here’s a closer look at what’s driving the declines.

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The Best Laid Plans for Marijuana Laws Go Astray

Not so fast, says the Department of Justice, on pot legalization. Just as California is poised to roll out its new marijuana laws, Attorney General Jeff Sessions has thrown a monkey wrench into plans devised by state lawmakers there and elsewhere who see potential tax revenues from making pot legal. In this Instant Insights, we show you the latest on the clash brewing over marijuana legalization and the complications arising.

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Law Schools Become Locus of Free Speech Clashes

Law schools historically have prided themselves as places where a robust exchange of ideas and beliefs about how we govern ourselves is protected. But a polarizing political environment has put that forum to the test. Speakers invited on law campuses have clashed with protestors, leaving law school administrators worried about campus security and about protecting the First Amendment rights of all parties involved. In this Instant Insights, we look at some of those run-ins and how schools are grappling with competing Constitutional rights.

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The Legal Profession's Future Through Susskind's Prism

Four years ago, Richard Susskind published the first edition of “Tomorrow’s Lawyers: An Introduction to Your Future.” With the rapid changes in the legal profession, tomorrow is now today. In this Instant Insights, you'll find excerpts from Susskind's second edition of "Tomorrow's Lawyers" plus analysis of his observations and predictions from top lawyers, scholars and students.

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The Weinstein Effect: The Hollywood Sex Scandal’s Impact on Big Law

Since the news broke of sexual harassment and assault claims against Harvey Weinstein, one of Tinseltown’s most powerful movie moguls, ALM journalists have closely covered its connection to law firms and the legal industry. Whether the impact has meant more business for lawyers working for Weinstein or the company he formerly ran or more worries for firms facing harassment claims against their own lawyers, the legal community has felt The Weinstein Effect. In this Instant Insights, we’ve brought those stories together and will continue to update the collection as news develops.

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Law Firms Court Clients with Online Business Tools

Some firms are developing their own digital products; others are pairing with tech companies to provide web-based tools. But whatever the arrangement, lawyers see the value of offering online business tools to woo startups and satisfy existing clients. With a click, clients now have access to documents such as articles of incorporation, employee offer letters, nondisclosure agreements, stock purchase agreements, cybersecurity policies and more. In this Instant Insights, you'll see which firms are leading the innovation, what online products they’re offering and the advantages they’re gaining by providing clients with the tech tools they need.

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How the Legal Profession Will Change in 2018

Looking Ahead to 2018, sexual harassment suits, law firm mergers and artificial intelligence are catching our eye, to name a few. In this Instant Insights, find out what’s on tap for law firms, in-house counsel, government attorneys and tech pros in the new year.

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Law Firms in China Refocus as Legal Business Shifts

Ten years ago, opening offices in Hong Kong and mainland China was the “it” strategy for many Big Law firms, as the country’s economy began to mirror Western capitalism. At that time, much of the investment was flowing in to China, with law firms eager to snag real estate work, IP matters and manufacturing deals. Today, there’s still work to go around, but much it is centered on outbound investment. In this Instant Insights, we show which firms are adapting to the changes in an era of slower growth, political tension and rising financial barriers.

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Cryptocurrency Is Coming to a Client Near You. Are You Ready?

Don’t know a Bitcoin from a Litecoin? Think blockchain is something kids play during recess? We’re here to help, counselor. Whether you’re just familiarizing yourself with the world of cryptocurrency or you’re up on the latest nuances of “mining,” you’ll find in this Instant Insights news and analysis on the myriad legal issues surrounding this fast growing technology.

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Fasten Your Seatbelts: Driverless Cars Leaving the Law in the Dust

Some of us recall when electric windows were a big deal. At the touch of a button, the glass magically hummed up and down. No more cranking. But a car that drove itself? Now that was something out of a Walt Disney movie. In this Instant Insights package, we show you how the law is evolving as driverless cars merge into the mainstream. You’ll also find stories about legal battles popping up and what’s happening in California, the hub for much of the industry.

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